Debt Collection Assistant now available for Student Borrowers

Posted on Jul 24, 2012

Today, a new web tool has been released for borrowers who have fallen behind on their student loan payments. The Consumer Financial Protection Bureau has partnered with the U.S. Department of Education, whose tool should help borrowers know their options, be able to communicate with their debt collector or servicer, and then work to bring their loans out of default or delinquency. This gives the borrower the chance to rebuild their credit, giving them the options of going back to school or buying a house.